Sonali Life Insurance, one of Bangladesh’s premier life insurance providers, has achieved remarkable success in meeting its customers’ insurance claims, even amidst ongoing economic challenges. The company’s commitment to prompt settlement has been demonstrated through the disbursement of over Tk 380 crore in claims for the year 2024, marking a significant leap of 206% in claim payments compared to the previous year.
In 2024, Sonali Life Insurance maintained its reputation for efficiency by settling claims within an impressive seven-day turnaround time. Company officials revealed that the total value of claims paid out during the year surpassed Tk 380 crore, a substantial increase from the Tk 124 crore paid in 2023. This achievement underscores the company's ability to respond to the needs of its policyholders in a timely manner.
The company’s claim settlement was further highlighted in December 2024, when it paid out a total of Tk 69.37 crore, covering a range of claims including death insurance, maturity benefits, associate insurance, and expected benefits.
According to data from the Insurance Development and Regulatory Authority (IDRA) in November 2024, Sonali Life was among six leading insurance companies in Bangladesh that achieved near-perfect claim settlement rates, with Sonali Life boasting an impressive 99.11% settlement rate. In terms of the total value of claims, Sonali Life led the sector, disbursing the highest amount—over Tk 380 crore.
A testament to the company’s speed and reliability in processing claims is seen in the story of Noor-e-Alam from Bhola’s Char Fashion. His wife, Bibi Jannat, recalls, “Sonali Life paid an insurance claim of Tk 1.71 lakh within just three days of his sudden passing.”
Similarly, in June 2024, Delwar Hossain from Lakshmipur passed away, leaving behind three children covered under Sonali Life’s education insurance policies. His wife, Taslima Akhtar, expressed her appreciation, stating, “In just five days, Sonali Life representatives not only explained everything to us but ensured that each of my children receives Tk 3,330 as a monthly scholarship allowance for ten years. We will also receive the full policy amount along with bonuses at the end of the term, without needing to pay any further premiums.”
Sheikh Md Daniel, Director of Sonali Life Insurance, emphasized the company's unwavering focus on claim settlement, saying, “Our claim settlement has always been our top priority. It has been our vision to lead the life insurance sector in claims processing, and this success has been possible due to our commitment to transparency, the effective use of technology, and efficient management practices.”
In addition to its impressive claim settlement rates, Sonali Life Insurance has also garnered attention for its customer-centric approach and transparent operations. As the company continues to grow, its dedication to supporting policyholders in times of need remains at the heart of its business strategy.
